A Hong Kong court ordered the liquidation of China Evergrande, the world’s most indebted property developer.
Evergrande has assets of about $245 billion, but owes about $300 billion.
Its demise is a “controlled collapse,” but still raises systemic risk and will hurt investors, says an analyst.
Until it gets down to paying small businesses and individual contractors, then all of a sudden the money is all gone and I don’t even recognize you, señor.